The latest addition to the range of products offered by Bank of Valletta is a five-year index-linked deposit account denominated in sterling. It provides depositors with an opportunity to enhance their portfolio. This index-linked deposit account is available from all Bank of Valletta branches and pays a fixed rate of interest of 4.5 per cent p.a for the first two years. Capital is 100 per cent guaranteed capital if held until maturity. Another feature of this product is the potential additional interest on maturity that is linked to the performance of the FTSE 100 Index.

Additional interest is calculated according to the average growth of the FTSE 100 Index over the last three years of the deposit’s life based on 13 quarterly observations. At the end of the five years, the growth of the FTSE 100 Index will be calculated by comparing the average of 13 quarterly observations to the initial value of the Index to determine the additional interest to be applied to the deposit. The additional interest rate amounts to 55 per cent of the average of the 13 Index observations recorded. If in a worst-case scenario, the index fails to achieve any growth over the whole term of the deposit, Bank of Valletta guarantees to repay the capital deposited on maturity.

This is a limited offer that closes on 14 June, or earlier at the bank’s discretion. The start date of this deposit is 15 June and the maturity date is 15 June 2010. Minimum deposit required is of GBP2,000 with multiples of GBP1,000 thereafter. Further information about the five-year index-linked deposit account may be obtained from all Bank of Valletta branches in Malta and Gozo, by calling the BOV Customer Service Centre on 2131 2020 or from the bank’s website www.bov.com